Let Them File for Bankruptcy

Anthony H.N. Schnelling's picture

Provide a fresh start for ailing companies within an organized system.

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Anne Lawton's picture

Chapter 11 is not liquidation. Filing for bankruptcy does not mean that GM goes out of business.

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Newton L. Gingrich's picture

The answer is an old fashioned one: (they) should choose between receivership or bankruptcy.

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WSJ Opinion Journal's picture

Only bankruptcy can force Detroit to change.

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Michael J. de la Merced's picture

...bankruptcy will finally allow G.M. to save costs and more effectively bargain with its various counterparties...

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Alec P Ostrow's picture

chapter 11 will likely be used in conjunction with a bailout.

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Too Big to Fail

Jack R. Nerad's picture

Bankruptcy puts a damper on consumer confidence and vehicle demand.

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Philip J. LeBeau's picture

The real crisis brewing in the industry swirls around the auto parts suppliers.

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Steve Lohr's picture

The technology is beginning to appear to make us think very differently about cars

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boris.steffen@naviganteconomics.com's picture

...the Big Three have made significant strides in resolving their problems outside of a formal bankruptcy proceeding.

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Mike Cox's picture

a loan -- not a bailout

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Schuyler Carroll's picture

The parties should understand that the time for negotiation is here and they can no longer wait...

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Your Opinion

Which is the best option for the US auto industry?

Bailout
12% (13 votes)
Bankruptcy
88% (100 votes)
Total votes: 113
Date published: Jan 09, 2009

Is Detroit manipulating congress to get a bailout?

Yes
88% (81 votes)
No
12% (11 votes)
Total votes: 92
Date published: Jan 12, 2009

Is a bailout justified by the potential impact of industry failure on the secondary automotive markets?

Yes
30% (24 votes)
No
70% (57 votes)
Total votes: 81
Date published: Jan 12, 2009

Should the government own a stake in bailed out auto makers?

Yes
60% (44 votes)
No
40% (29 votes)
Total votes: 73
Date published: Jan 12, 2009

Issue 1



See all of Issue 1 'Bankruptcy or Bailout?'
See all of Issue 2 'Mortgage Cramdown'

Date published: Jan 14, 2009

Let Them File for Bankruptcy

Mitt Romney's picture

Detroit needs a turnaround, not a check

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Jack and Suzy Welch's picture

It's a life-support solution, not a cure.

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David Brooks's picture

In short, a bailout will not solve anything — just postpone things.

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Michael Levine's picture

It would cost GM billions of dollars and many years to reduce the number of dealers it has to a number near Toyota's.

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Bill Steigerwald's picture

Does the auto industry deserve a bailout?

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James L. Gattuso's picture

While often seen as a sign of failure, the bankruptcy process is the best way to get back on their feet.

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Andrew M. Grossman's picture

Reorganization is the only chance that automakers have to rebound and survive in the global marketplace.

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Daniel J. Mitchell's picture

A taxpayer bailout would be a terrible mistake."

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The Economist's picture

In many ways, Chapter 11 is more stable and predictable than depending upon the government.

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Richard Ebeling's picture

[A bailout] will be a big mistake for the health and future prosperity of the United States economy.

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Too Big to Fail

Kate McLeod's picture

It is easy to list the lame decisions that brought Detroit to its knees.

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Geoffrey L. Berman's picture

The wave of failures would exacerbate the current recession...

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New York Times editorial board's picture

The government should insist on a complete restructuring.

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David Lazarus's picture

Let's require the U.S. automakers to come up with a blueprint for a 100-mile-per-gallon car.

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Bob Herbert's picture

...the reverberations would kill the jobs of entire armies of American workers.

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Daniel Gross's picture

Why not just let General Motors, and perhaps Ford and Chrysler, just go bankrupt?

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Thomas L. Friedman's picture

a blank check ... would be an enormous mistake

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Your Opinion

Does the auto industry need new management?

Yes
98% (80 votes)
No
2% (2 votes)
Total votes: 82
Date published: Jan 12, 2009

Will bankruptcy by any of the Big 3 destroy the auto industry?

Yes
15% (8 votes)
No
85% (45 votes)
Total votes: 53
Date published: Jan 09, 2009

Should Ford ask for a bailout if it may not need it?

Yes
11% (4 votes)
No
89% (31 votes)
Total votes: 35
Date published: Jan 09, 2009

Will the auto industry fail even with a large bailout?

Yes
76% (34 votes)
No
24% (11 votes)
Total votes: 45
Date published: Jan 09, 2009

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